Aww, sweet summer days, just lounging in a hammock with a book and a glass of lemonade. It doesn’t get much better than that. And lest you think that hammocks are just for grandma and grandpa, there has been a strong resurgence among Millennial shoppers for the 1,000+ year old product.
Sales of hammocks have increased 30% compared with the previous year, growing to sales of more than $53 million. Even Amazon has gotten into the action, including a discounted hammock n its Prime Day sale in July and selling out 24,000 units. Other retailers are in on the action too, including L.L Bean, Moosejaw, and Wayfair.
Why hammocks for Millennials? This is a product that is relatively inexpensive, can be shared with friends, and a way of hanging out on campus with friends, or in a forest with nature, or just in your own backyard. If camping, try out the tent-hammock hybrid.
Want to hang out?
Group Activities and Discussion Questions:
1. Discuss the different stages of the product life cycle. What stage are hammocks?
2. Show some of the hammocks online: L.L. Bean – http://www.llbean.com; REI – http://www.rei.com
3. Divide students into teams. Have each team find develop a marketing mix for selling hammocks to college students.
4. What are the key factors?
5. What are the issues and concerns?
Source: Ad Age Daily